or should I say yet? Looking at the 15 minute charts gives
pretty good view.
It may not look impulsive yet, but if the drop so far is only a
wave 1, it is the wave 3 that will need to amaze. And if this
decides to make a bunch of 1-2 1-2s then what?
this could just be the C wave I have been posting thoughts on,
so the 5 wave structure should still play out....but if a wave 3
and not a C then things will need to get ugly fast. And my guess is
it wouldn't happen til Monday anyways but who knows. Would love to
see this morning's gap filled today!
Heck could just be pausing before the next blast to new
highs!!
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
SPX 15
Posted by steve on 21st of Jan 2011 at 12:01 pm
$SPX
Notice how the SPX found resistance at the previous breakdown level.
this chart has me concerned short term
Posted by perthx on 21st of Jan 2011 at 12:04 pm
another of Steve's SPX 15 min
right on support
...coupled with the bearish rising
Posted by vimal on 21st of Jan 2011 at 12:09 pm
...coupled with the bearish rising wedge eurusd chart to me shows potential for some downside.
Near term the SPX is
Posted by steve on 21st of Jan 2011 at 12:14 pm
Near term the SPX is getting oversold and the move down off the highs does not look impulsive.
not impulsive but
Posted by perthx on 21st of Jan 2011 at 12:36 pm
or should I say yet? Looking at the 15 minute charts gives pretty good view.
It may not look impulsive yet, but if the drop so far is only a wave 1, it is the wave 3 that will need to amaze. And if this decides to make a bunch of 1-2 1-2s then what?
this could just be the C wave I have been posting thoughts on, so the 5 wave structure should still play out....but if a wave 3 and not a C then things will need to get ugly fast. And my guess is it wouldn't happen til Monday anyways but who knows. Would love to see this morning's gap filled today!
Heck could just be pausing before the next blast to new highs!!